Fed's Hammack Says Inflation Has Eased Notably But Hasn't Returned To Goal; Inflation Readings Have Improved In Recent Months; Fed Policy Has Helped Cool Inflation Process; Longer Run Inflation Expectations Have Been Anchored; Inflation Has Eased Amid Strong Job Market, Good Growth
Portfolio Pulse from Benzinga Newsdesk
The Federal Reserve's Hammack stated that inflation has eased significantly but has not yet reached the target. Recent months have shown improved inflation readings, with Fed policy contributing to this cooling process. Despite strong job market and growth, longer-term inflation expectations remain anchored.
October 24, 2024 | 12:57 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience a positive impact as the Federal Reserve's efforts to control inflation show progress, with inflation easing and long-term expectations anchored.
The SPY ETF, which tracks the S&P 500, is likely to benefit from the positive sentiment around the Fed's successful efforts in easing inflation. As inflation readings improve and expectations remain stable, investor confidence in the market may increase, potentially driving up the price of SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50